Carlos Corona

TL;DR: In this paper, the authors show that a stock's expected return is decreasing in factor-loading uncertainty, controlling for the average level of its factor loading, and they estimate that average annual returns of a firm with the median level of factorloading uncertainty are 400 to 525 basis points lower than a comparable firm without factor loading uncertainty.

TL;DR: It is demonstrated that this need not always be the case by studying a two-period game of repeated interaction between a manager and an auditor under the assessment of the market for audit services, where reputation as the sole motivator for the auditor is illustrated.

TL;DR: In this article, the authors show that a stock's expected return is decreasing in factor-loading uncertainty, controlling for the average level of its factor loading, and they estimate that average annual returns of a firm with the median level of factorloading uncertainty are 400 to 525 basis points lower than a comparable firm without factor loading uncertainty.

TL;DR: In this paper, the interaction between interbank competition and accounting information quality and their effects on banks' risk-taking behavior was studied, and it was shown that improving information quality increases risk taking with mild...

TL;DR: In this paper, the authors derive a class of value added performance measures, which effectively aggregate the current cash flow and consecutive realizations of the noisy indicator of the intangible asset, and show that this more realistic contracting scenario yields the same investment patterns and efficiency levels as those obtained under long-term commitment.